Opening of the G8 Summit
This year's G8 summit was identified by leaders as an important opportunity to discuss a range of issues related to the global economy.
On June 17, the Group of Eight (G8) summit opened at the Lough Erne resort in Northern Ireland (UK) with an ambitious agenda focusing on efforts to revive the recession-hit global economy.
The formal discussion, along with bilateral meetings on the sidelines on a range of global hot issues, partly reflected the existing conflicts between the major powers. Disagreements over policy towards Syria, the biggest question being whether to arm the rebels in this Middle Eastern country, have cast a dark cloud over the summit.
This year's G8 summit is considered by leaders to be an important opportunity to discuss a series of issues related to the global economy, specifically efforts to promote trade activities to create momentum to restore growth for the world economy. To do this, the G8 countries set a goal of completing trade agreements, while aiming to start negotiations on a transatlantic free trade area between the US and the European Union (EU). European Commission (EC) President Jose Manuel Barroso hopes that negotiations can begin in July.
The Eurozone debt crisis and the role of central banks in maintaining financial market stability were also discussed. Host country Britain also wants to use the forum to promote measures to combat tax evasion and increase transparency in trade activities.
According to estimates by social groups, tax evasion costs the global economy about $3 trillion each year. However, observers say it is unlikely that G8 leaders will reach consensus on a series of hot issues related to the global economy. In each aspect, they are entangled in disagreements about interests.
Meanwhile, the civil war in Syria dominated the entire conference this year. The conflict between Russia and the West over policy towards Damascus deepened when the US announced it would provide weapons to the rebels in this Middle Eastern country. Ahead of the summit, the meeting between host country Prime Minister David Cameron and Russian President Vladimir Putin fell into a deadlock when the two could not find a common voice. The Russian leader criticized the US and UK for providing weapons to the rebels. According to Mr. Putin, this action violated not only humanitarian values but also international law./.
According to VOV - DT
